Hsbc Holdings PLC purchased a new position in Koninklijke Philips (NYSE:PHG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 120,247 shares of the technology company's stock, valued at approximately $3,039,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHG. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Koninklijke Philips by 87.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company's stock worth $56,266,000 after purchasing an additional 1,038,321 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Koninklijke Philips in the 4th quarter valued at about $10,655,000. Causeway Capital Management LLC raised its position in shares of Koninklijke Philips by 24.0% during the 4th quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company's stock worth $39,673,000 after acquiring an additional 303,428 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Koninklijke Philips by 315.0% during the third quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company's stock worth $8,040,000 after purchasing an additional 186,520 shares during the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd acquired a new position in Koninklijke Philips in the fourth quarter valued at approximately $2,532,000. Institutional investors and hedge funds own 13.67% of the company's stock.
Koninklijke Philips Stock Performance
NYSE:PHG traded down $0.07 during midday trading on Monday, reaching $25.52. The stock had a trading volume of 238,520 shares, compared to its average volume of 854,370. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.59. The stock has a market cap of $23.99 billion, a P/E ratio of -30.39, a P/E/G ratio of 0.82 and a beta of 0.81. The firm has a fifty day simple moving average of $25.04 and a two-hundred day simple moving average of $26.12. Koninklijke Philips has a 12-month low of $21.48 and a 12-month high of $32.91.
Koninklijke Philips (NYSE:PHG - Get Free Report) last released its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, equities analysts expect that Koninklijke Philips will post 1.63 EPS for the current year.
Koninklijke Philips Cuts Dividend
The business also recently declared an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.886 per share. This represents a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips's payout ratio is -89.29%.
Analysts Set New Price Targets
Several equities analysts have issued reports on PHG shares. BNP Paribas upgraded shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research note on Tuesday, February 25th. StockNews.com upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. UBS Group upgraded Koninklijke Philips from a "neutral" rating to a "buy" rating in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein raised Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 18th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Koninklijke Philips presently has an average rating of "Buy".
Check Out Our Latest Research Report on Koninklijke Philips
About Koninklijke Philips
(
Free Report)
Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.
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